What is MySQL "Key Efficiency"

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MySQL Workbench reports a value called "Key Efficiency" in association with server health. What does this mean and what are its implications?

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From MySQL.com, "Key Efficiency" is:

...an indication of the number of key_read_requests that resulted in actual key_reads.

Ok, so what does that mean. What does it tell me about how I'm supposed to tune the server?

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